There are 75 million of them; people born between 1980 and 2000. That’s roughly 25% of the U.S. population. Millennials, like all of us are looking for a great place that is safe, convenient, and affordable. But millennials have their own set of desires, and even requirements when looking for a new apartment home. And […]
Posted on 16. Mar, 2017.
You hear stories about them–and maybe you’ve been lucky enough to never experience them–but bed bugs are still a constant risk to property management....
Posted on 08. Feb, 2017.
Reputation is really important in property management. You want to attract and build a community of happy renters who then share their good experience with others....
Posted on 15. Mar, 2017 by Marc Courtenay.
Your daily experiences as a property manager may seem unpredictable. But don’t be fooled by appearances. You have more impact on your daily destinies than you may have believed. The mindset that you bring to your work and your personal life is both a reflector and a generator of your resolutions and results. Regardless of […]
Even when your communities are 100% occupied, as a property manager, you’re always looking for quality tenants. While it’s a challenge to attract tenants any time, finding those tenants and leasing apartments or homes in the first quarter of the year can be particularly challenging. But there are ways to attract quality tenants, any time […]
Posted on 03. Mar, 2017 by Marc Courtenay.
Virtually every month I meet or hear of a rental income property owner who wants to expand their portfolio. They’re searching throughout the 50 states for deals that make sense to them. Of course finding a lucrative “cap rate” is a challenge in today’s world. With interest rates still at historical lows, the return-on-investment (ROI) is […]
Posted on 28. Feb, 2017 by Mary Girsch-Bock.
Just a few weeks ago Punxsutawney Phil predicted six more weeks of winter; it’s no secret that some parts of the U.S. are currently experiencing record warm temperatures. In the Southwest, grass is already starting to appear, and bushes beginning to bloom. And though a lowly rodent’s prediction may end up being accurate, it’s never […]
“You’re being audited.” Those three words can strike fear in the hearts of even the most organized property manager. But if you take measures today to ensure that your business is audit-proof, you’ll be a lot more comfortable if your property management business is chosen for an audit. While an IRS audit is always possible, […]
If your property management business is currently using the latest and greatest technology, congratulations! But for those of you still using technology from years ago, it’s time to start to take advantage of the benefits that today’s technology can bring to your business, and to your applicants and tenants. If you’re not sure where to […]
Posted on 17. Jan, 2017 by Marc Courtenay.
In case you haven’t read the following quote in awhile, “an ounce of prevention is worth a pound of cure.” Benjamin Franklin gets the credit for this piece of powerful wisdom. Whether it’s taking on a new partner, new employees, more risk, less risk or using intuition to keep up with the latest trends in […]
One of my favorite Barbra Streisand songs contains the lyrics “people who need people are the luckiest people in the world”. This applies as much to property managers as to anyone today. Let’s begin this discussion by focusing on our clients, the owners of the properties we manage. Where would we be without them and […]
In a previous post, we talked about some common issues that property managers typically face. As we get ready to begin a new year, now is a good time to address the issues that you’re facing today. Here are a few ideas to get you started: If you’re dealing with skyrocketing costs at your property, you […]
It’s that time of year again. As we look at welcoming in 2017 in a few short days, there’s no better time to take stock of your properties and what you’d like to accomplish in the coming year. While the process may seem daunting, there are ways to determine exactly what is terrific about your […]
Posted on 23. Dec, 2016 by Marc Courtenay.
There is no time like the present to make sure your residents are happy and feeling appreciated. We don’t need a holiday season or a special time of the year to create an event to convey our gratitude. First and foremost, when you see a resident or your staff is communicating with them, go out […]
Posted on 20. Dec, 2016 by Marc Courtenay.
Pardon my giddy take on an old holiday song, but as I listened to the words “Tis the Season to Be Jolly” my imagination ran wild with technological insights. Great technology can bring jolly good results. In the spirit of not wanting to be frivolous or flippant, I could see through my “mind’s eye” how […]
With the weather more unpredictable than ever, you’ll want to be sure your properties are well prepared for whatever weather may head your way. For those of you living in more temperate climates, now is a good time to perform some annual maintenance on your properties. Here are some suggestions to get you started before […]
Posted on 06. Dec, 2016 by Marc Courtenay.
“All the king’s horses and all the king’s men couldn’t put Humpty Dumpty together again.” Most of us can remember this childhood poem which has important lessons and reminders. The winds of change are blowing powerfully since the results of the November 8, 2016 U.S. elections. As the financial markets adjust to the changes and […]
Posted on 30. Nov, 2016 by Mary Girsch-Bock.
What is the magic formula for a successful property management team? Like any other workplace, a property management office functions much more efficiently when employees function as a team with each member contributing their particular talent and expertise. When an office functions as a true team, everything runs smoothly. When it doesn’t, even the slightest […]
Posted on 22. Nov, 2016 by Marc Courtenay.
Would you like to keep your best, most responsible residents? Are you interested in filling vacancies with that caliber of prospects? Let me share some perky ideas from some successful managers. The most frequent answer to the questions, “How do we motivate responsible residents to rent the properties we manage and how do we attract […]
There appears to be more people in the U.S. who live with a pet than ever before. The U.S. Department of Housing and Urban Development (HUD) is carefully looking into this topic as it pertains to renters. In fact, HUD has already published an 8 page guide titled Resident Rights that every property manager should become […]
You’ve just flown thousands of miles to meet with an potential new client. You were certain that you packed several sample management reports in your briefcase, but looking now, you don’t see any of them. You quickly call the office to see if one of your employees can email the report to you, but there […]
Posted on 01. Nov, 2016 by Marc Courtenay.
If you really want to know what top property management professionals like, just ask them. That’s what I did in a random, anecdotal sampling out in the field, online and on the phone. What I wanted to discover is if they belonged to a professional association, which one, and why? The organization that rose to […]
Posted on 25. Oct, 2016 by Marc Courtenay.
As I listened to this long-time property manager describe his losses I was astounded. “These ungrateful owners don’t deserve me. I’ve worked hard for them and their residents and this is what I get?” Although this man was intelligent, his people-skills and mannerisms were brash, condescending and curt. Nobody enjoys the company or doing business with […]
Posted on 20. Oct, 2016 by Mary Girsch-Bock.
In a recent post, I talked about HUD’s new guidelines for renting to tenants with a criminal history. Today, we’ll take a look at some of the other Fair Housing Laws that property managers may be overlooking. While all property managers are likely (or should be) familiar with standard Fair Housing Laws, such as the prohibition […]
Posted on 18. Oct, 2016 by Marc Courtenay.
While many property managers may be distracted by and entertained with the political elections in the U.S., now may be an auspicious time to shift our focus. How about two disparate attention targets? First, how do the presidential elections impact the cost of housing? My research found that residential real estate prices usually falls during […]
Posted on 13. Oct, 2016 by Marc Courtenay.
There are times where we throw caution to the wind and go “all in.” There are other times to pause and carefully ponder the realities of what may be “coming around the bend.” Perhaps, after nearly 8 years of low interest rates and endless economic stimulants, we are now in the “carefully ponder” stage of […]
You’ve worked hard to attract and keep the best tenants; making sure that your properties are well maintained and attractive. Resident safety issues are also a priority, so your property is patrolled regularly, burned out lights replaced immediately, and security cameras working. Everything is working great; you’re happy, your tenants are happy, and the property […]